13.24

Past version: effective from 01/08/2018 - 30/09/2020
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An issuer shall carry out, directly or indirectly, a sufficient level of operations or have tangible assets of sufficient value and/or intangible assets for which a sufficient potential value can be demonstrated to the Exchange to warrant the continued listing of the issuer's securities.

Note: Characteristics of issuers which are unable to comply with rule 13.24 include:

(i) financial difficulties to an extent which seriously impairs an issuer's ability to continue its business or which has led to the suspension of some or all of its operations; and/or
(ii) issuers which have net liabilities as at their balance sheet date i.e. issuers whose liabilities exceed their assets.